The cryptocurrency market entered a powerful rally last week. Investors are looking for the best crypto to buy now as Bitcoin reaches a new all-time high and Ethereum tests crucial resistance levels.
On Monday, business intelligence firm MicroStrategy announced a big investment in Bitcoin, purchasing an additional 27,200 BTC for approximately $2.03 billion.
This investment boosts MicroStrategy’s Bitcoin holdings to around 279,420 BTC, now valued at nearly $23 billion.
Bitcoin’s recent surge, climbing above $85,000, has set a new milestone, igniting optimism across the crypto market.
Analysts attribute this price boost to positive regulatory expectations, as U.S. President-elect Donald Trump’s stance on digital assets has favored Bitcoin and other cryptocurrencies.
This optimism has driven losses for short-sellers on crypto-related stocks, especially exchange and mining companies like Coinbase and Riot Platforms. Since November 6, their losses have neared $1.2 billion.
The crypto market has also witnessed record-breaking inflows into global crypto funds, which have reached an unprecedented $116 billion in assets under management, reflecting strong institutional interest.
Source: Coinshares
Ethereum has likewise gained momentum, rallying 35% since last Tuesday. With transaction volumes on its mainnet reaching levels not seen since July, the bullish sentiment around Ethereum suggests it could soon break past its yearly high.
ETH is currently trading at $3,290, and its outlook remains positive. Analysts are watching closely to see if it can sustain its position above critical levels.
As major cryptocurrencies strengthen, attention has turned to three trending assets: Dogecoin, PNUT, and Dogfight.
Each has shown remarkable price increases, supported by market dynamics, community interest, and specific catalysts.
Best Crypto to Buy Now
Dogecoin (DOGE): Meme Coin Overtakes XRP in Market Rankings
Dogecoin has experienced a phenomenal rally, pushing it to a three-year high of $0.31, with a 101.3% gain over the past week.
DOGE’s resurgence has propelled it past XRP in market capitalization, reclaiming the seventh spot among top cryptocurrencies.
This rise follows renewed interest after Donald Trump’s election victory, which spurred a wave of buying activity as traders anticipated a pro-crypto regulatory environment.
Source: Cryptonews.com
DOGE’s Super Trend indicator signals a continued bullish outlook, supported by the Moving Average Convergence Divergence (MACD), which shows a strong upward trend.
At the time of writing, DOGE is trading at $0.3218 but faces resistance at $0.31. Should it breach this level, the next target could be $0.39, last seen in mid-2021.
Profit-taking could slow DOGE’s momentum. If the rally falters, support around $0.19 is expected. Failure to hold this level might result in a decline toward $0.09.
PNUT: Surges Following Major Exchange Listings
Peanut (PNUT) has skyrocketed, largely due to listings on Binance and Bybit. With a 255.03% increase in the past 24 hours, PNUT now trades at $0.3805, marking a significant climb in market interest.
PNUT has garnered attention due to recent social media hype and a tweet from Elon Musk, which spurred the token’s popularity.
The new exchange listings have spotlighted PNUT, increasing accessibility and liquidity. Trading volumes soared, pushing PNUT’s market capitalization from $110 million to over $500 million at its peak.
Source: Coingecko
PNUT is currently trading at $0.003372, showing a 60.8% increase in the past day.
With rising interest from traders, PNUT is well-positioned for further price movements, contingent on sustained trading volume and continued support from its recent listings.
Dogwifhat (WIF): Eyeing New Highs Amid Strong Uptrend
The price of dogwifhat (WIF) has risen steadily, recently piercing the key resistance level of $2.8941. This is largely due to the market network effect and SOL’s good performance, which surged past $220 today.
This uptrend is also supported by the 50-day SMA and positive RSI indicators. WIF shows promise for further gains, especially if it can maintain its position above this critical threshold.
WIF’s main trend is upward, supported by an active short-term trendline and favorable RSI signals.
Source: Cryptonews.com
At the time of writing, WIF is trading at $3.05, up 15.2% in the past day. It faces its next resistance at $4.0735, a target that, if achieved, could set the stage for a sustained rally.
Traders are optimistic about WIF’s potential as the upward trend attracts buying pressure.
The token’s alignment with its SMA and resistance levels indicates strength despite RSI levels showing overbought conditions.
With steady momentum, WIF appears poised to explore higher valuations, assuming it can consolidate above its current support.
The crypto market’s latest rally has been marked by significant moves from institutional players, Trump’s win, regulatory optimism, and enthusiastic retail interest.
For investors seeking potential opportunities, Dogecoin, PNUT, and dogwifhat each offer unique growth prospects based on technical indicators, recent market activity, and underlying demand.
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